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Afghanistan’s central bank chief upbeat over stable AFN

The monthly average exchange rate between AFN and US dollar was recorded at AFN 72.0 per 1 USD.

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The acting head of Da Afghanistan Bank (DAB) says that the value of the afghani (AFN) against the US dollar has remained stable compared to that of other currencies in the region.

Hadayatullah Badri said in a Supreme Council of Da Afghanistan Bank meeting this week that the liquidity situation in banks has improved because “people’s deposits in the Islamic banking sector have increased by 4 percent compared to the previous quarter.”

Issues that were also discussed at the meeting included the effective implementation of monetary policies, the state of the banking sector, efforts to develop Islamic banking, the mechanization of exchange activities and people’s access to financial services.

Last month, the UN’s World Food Program (WFP) reported that following political changes in August 2021, inflation surged in Afghanistan, peaking at 18.3 percent in July 2022.

However, it subsequently plummeted into deflation, reaching -9.0 percent in March 2024.

Similarly, food inflation decreased from +26 percent in June 2022 to -13.8 percent in March 2024.

The persistent deflation is reflecting a fall in food prices and weak consumer demand.

However, WFP stated: “While deflation supports low food prices, limited number of job opportunities and low wages will continue to weaken household purchasing power.”

Exchange Rate:

The monthly average exchange rate between AFN and US dollar was recorded at AFN 72.0 per 1 USD.

After its surge in January 2022, the value of AFN started to consistently appreciate against the US dollar during the year 2023 and remains relatively stable, hovering around AFN 70-74 per USD since November 2023.

Factors such as US dollar auctions by the Da Afghanistan Bank, ban on foreign currencies for domestic transactions, increased remittances, and UN dollar shipments significantly contribute to the stability of AFN, WFP reported.

 

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Afghanistan and Iran swap prisoners at Milak border crossing

At the same time, two Iranians serving sentences in Afghan prisons were repatriated to Iran.

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Afghanistan and Iran exchanged prisoners at the Milak border crossing in south-eastern Iran on Sunday, officials confirmed.

According to IRNA, almost 200 Afghan prisoners held in Iranian prisons in Tehran, Sistan and Baluchestan and Isfahan were handed over to Afghan authorities at the Milak border in Sistan and Baluchestan.

At the same time, two Iranians serving sentences in Afghan prisons were repatriated to Iran.

Iran’s Deputy Justice Minister for Human Rights and International Affairs, Askar Jalalian, said recently that more than 4,500 foreign nationals detained in Iran had been sent to their home countries.

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UNAMA chief visits northern Afghanistan, meets local officials including women

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Roza Otunbayeva, Head of the United Nations Assistance Mission in Afghanistan (UNAMA), recently visited the city of Maimana in northern Afghanistan, where she met with local officials, entrepreneurs, and UN staff.

UNAMA wrote on its Facebook page on Sunday, that during the visit, entrepreneurs — including women — met with Otunbayeva, and requested support to facilitate access to new markets, particularly in Uzbekistan.

UNAMA further stated that among these entrepreneurs was a group of women who, with the support of the United Nations Development Programme (UNDP), had established a tailoring workshop.

They expressed their appreciation for the support received and spoke about the significant growth and development of their business.

UNAMA added that the organization remains committed to promoting economic opportunities and empowering Afghan communities, especially women.

 

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Senior Indian official meets with FM Muttaqi in Kabul

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Anand Prakash, head of the Afghanistan, Iran and Pakistan Division of the Indian Ministry of External Affairs, met with Acting Foreign Minister Amir Khan Muttaqi in Kabul for talks on various issues.

According to a press release issued Sunday by the Afghan Foreign Ministry, bilateral political relations, trade, transit and recent political developments in the region were discussed in the meeting.

Muttaqi stressed the need for the expansion of diplomatic and economic relations between the two countries and explained that Afghanistan currently offers favorable opportunities for investment. He said Indian investors should take advantage of these opportunities.

He also said that facilities should be created for the movement of people between Afghanistan and India and the issuance of visas for medical purposes, students and businessmen should return to normal.

Meanwhile, Prakash said that relations with Afghanistan are important for India and he hopes that these relations will expand further in various fields.

He stressed that India will continue its cooperation with Afghanistan and wants to invest in some infrastructure projects and restart projects that were paused for some time.

The two sides also emphasized the expansion of relations, the exchange of delegations, visa facilitation and bilateral cooperation.

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